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Dycom Industries, Inc. (DY) provides specialty contracting services in the United States and Canada.
The company offers a range of specialty contracting services, such as engineering, construction, maintenance, and installation services comprising placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.
It also provides underground facility locating services, including locating telephone, cable television, power, water, sewer, and gas lines to various utilities, which comprise telecommunications providers.
In addition, the company offers tower construction, lines and antenna installation, and foundation and equipment pad construction services for wireless carriers, as well as equipment installation and material fabrication, and site testing services; and installs and maintains customer premise equipment, such as digital video recorders, set top boxes, and modems for cable television system operators.
Further, it performs construction and maintenance services for electric and gas utilities, and other customers.
Shares have formed a bullish "flag" following the company's latest quarterly report. It
had profit of 97 cents per share, well above the estimates of 83 cents per share. Fourth quarter revenue of $578.5 million also topped the estimates of $565.7 million. For the year, the company reported profit of $84.3 million, or $2.41 per share. Revenue was reported as $2.02 billion. For the current quarter ending in November, Dycom Industries said it expects revenue in the range of $615 million to $635 million. Analysts had expected revenue of $562.9 million. The Company is schdeuled to present at the D.A. Davidson 14 September 10, 2015. We expect shares to move higher into and following the event. After all, companies who attend these conferences usually have some positive news! Higher share prices are expected for this stock.
52-Weeks Trading Range: $24.84 - $74.62
Entry Point: $73.50
Stop Loss: $69.00
Target Price: $80.75
DY closed at $78.60 after its 30 days expired!
